India and the United States have signed a Foreign Account Tax Compliance Act (FATCA) agreement on 09 July 2015. This is a Model 1 Agreement. Under this reciprocal agreement, financial institutions in India will report the information required under FATCA about U.S. accounts to the Indian Government, which in turn will report the information to the IRS.
Related Posts
US President Donald Trump announced in a Truth Social post on 2 February 2026 that a major trade deal had been reached with India. Under the agreement, the US will sharply reduce tariffs on Indian goods. The overall duty on Indian imports, which
Read More
The US and El Salvador signed an agreement to promote US investment in El Salvador’s critical minerals sector on 29 January 2026. Signed in Washington, the deal allows US companies to participate across the full critical minerals supply chain
Read More
India's Minister of Finance, Nirmala Sitharaman, delivered the Union Budget for 2026-27 on 1 February 2026. The proposals aim to relax tax rules for multinational companies, which are expected to bring greater certainty to cross-border transactions.
Read More
The US state of California is moving quickly to strengthen vehicle emissions standards and expand electric vehicle (EV) incentives, even as the Trump administration dismantles federal environmental protections. This week, state officials,
Read More The US Internal Revenue Service (IRS) issued a notice on 29 January 2026 urging tax professionals to prepare for the upcoming filing season. “Tax professionals can play a key role in furthering the IRS’s mission to ensure taxpayers understand
Read More The US Internal Revenue Service (IRS) released the National Taxpayer Advocate’s 2025 Annual Report to Congress on 28 January 2026, assessing IRS performance over the year and identifying potential risks for 2026. The report notes that taxpayer
Read More
